Family Dollar Issues Statement Regarding Icahn Schedule 13D Filing

June 06, 2014 07:25 PM Eastern Daylight Time

MATTHEWS, N.C.--(BUSINESS WIRE)--Family Dollar Stores, Inc. (NYSE: FDO) today noted that Icahn Capital LP
has filed a Schedule 13D with the Securities and Exchange Commission
reporting that it has acquired beneficial ownership of approximately
9.4% of Family Dollar’s common stock. The Company issued the following
statement:

The Family Dollar Board of Directors and management team are open to
dialogue with all shareholders and welcome input toward the shared goal
of enhancing value. As previously announced, we are taking steps to
strengthen our value proposition, increase operational efficiencies and
improve financial performance. We are committed to driving value for all
Family Dollar shareholders and will continue to take actions to achieve
this important objective.

Cautionary Statements

Certain statements contained in this press release are “forward-looking
statements” that are subject to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. These forward-looking
statements address certain plans, activities or events which the Company
expects will or may occur in the future and relate to, among other
things, the state of the economy, the Company’s investment and financing
plans, net sales, comparable store sales, store openings and closings,
gross profit, income tax rates, capital expenditures, cost of sales,
SG&A expenses, earnings per diluted share, dividends and share
repurchases. Various risks, uncertainties and other factors could cause
actual results to differ materially from those expressed in any
forward-looking statement. Consequently, all of the forward-looking
statements made by the Company in this and in other documents or
statements are qualified by factors, risks and uncertainties, including,
but not limited to, those set forth under the headings titled
“Cautionary Statement Regarding Forward-Looking Statements” and “Risk
Factors” in the Company’s most recent Annual Report on Form 10-K and
subsequent Quarterly Reports on Form 10-Q filed with the Securities and
Exchange Commission up to the date of this release.

Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date of this
press release. The Company does not undertake to update or revise these
forward-looking statements even if experience or future changes make it
clear that projected results expressed or implied in such statements
will not be realized, except as may be required by law.

In addition, the amounts and timing of all estimates are subject to
change. The actual amounts and timing may vary materially based on
various factors, including the timing of store closings; the timing and
amount of sublease income and other lease expense; factors relating to
real estate including sale proceeds; asset write-downs and other factors
affecting inventory value; changes in management's assumptions; and
other factors.

About Family Dollar

For more than 54 years, Family Dollar has been providing value and
convenience to customers in easy-to-shop neighborhood locations. Family
Dollar’s mix of name brands and quality, private brand merchandise
appeals to shoppers in more than 8,100 stores in rural and urban
settings across 46 states. Helping families save on the items they need
with everyday low prices creates a strong bond with customers, who often
refer to their neighborhood store as “my Family Dollar.” Headquartered
in Matthews, North Carolina, just outside of Charlotte, Family Dollar is
a Fortune 300, publicly held company with common stock traded on the New
York Stock Exchange under the symbol FDO. For more information, please
visit www.familydollar.com.